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Tuesday, 24 July 2018 - 18:00
Microfinance loans of women in 12 districts written off
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Cabinet approves to write-off microfinance loans less than Rs.100,000 issued to women in 12 districts affected by drought.

Further, the government has also decided to introduce an interest rate cap of 30% per annum on all future loans given by Microfinance Companies.

This scheme of relief initially will be limited to women who have obtained microfinance loans for non-consumption purposes in the drought-affected districts.

The twelve districts that were affected by the recent drought are Trincomalee, Ampara, Batticaloa, Jaffna, Mullaitivu, Kilinochchi, Vavuniya, Mannar, Kurunegala, Puttalam, Anuradhapura and Polonnaruwa where cultivations were affected consecutively for five seasons.
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